Provident Fund Alert: Here comes a piece of good news for the Provident Fund subscribers. They will receive the interest of the PF before Diwali. This has been reported by various media channels. Notably, this interest rate is for the financial year 2020-21 (FY21).Also Read - Provident Fund Alert: Planning to Change Job? Here’s How You Can Transfer EPF Account Online
This interest rate will provide much-needed relief to over 6 lakh PF subscribers across the country. As per latest report, the Employees’ Provident Fund Organization (EPFO) is expected to credit 8.5 per cent interest on Provident Fund (PF) before Diwali. Also Read - EPFO-Aadhaar Linking Deadline Extended For THESE Establishments | Details Inside
As per a report in the Mint, the PF interest will be credited as the same time when the Central government employees will get their hike in Dearness allowance (DA) and dearness relief (DR). It must be noted that the Central Board of Trustees of the EPF has recommended 8.50 per cent annual rate of interest in March this year. Also Read - Provident Fund: Here’s How You Can Transfer Account Online From Unified EPFO Member Portal | Step-by-step Guide Here
It was also reported that the EPFO’s central board has approved the interest hike and the body now seeks the nod of the finance ministry for the same. The EPFO hopes to get the approval soon as the board is in a comfortable financial position for the credit payout.
Here’s how to check PF balance?
Once the interest rate is credited, the EFPO subscribers can easily check their PF balance by following a few steps. They can easily check their increased investments in their PF account via SMS or missed call.
How to check PF balance by SMS:
- The PF subscribers can easily check PF balance in EPF account by sending an SMS to 7738299899.
- You have to send the message in the right format which is – EPFOHO UAN ENG.
- PF subscribers with registered mobile numbers can receive their PF details via an SMS by EPFO as soon as they send the SMS.
How to check PF balance by missed call:
- The PF subscribers can also check PF balance by giving a missed call on EPFO’s official number 011-22901406.
- They will have to run a missed call from their registered numbers only to check their PF balance.